Available
Worcester – Retail Shop
23 Reindeer Court, Worcester, Worcestershire WR1 2DSFreehold Retail Investment
Price
£155,000
Rent P.A.
£10,750
Yield
6.94%
Tenure
Freehold
Lease Term
5 Years
Years Left on Lease
5y
Area
875 SQ FT
VAT Applicable
Yes
Sector
Investment Consideration
- Comprises two-storey retail unit, t/a lingerie boutique
- Located inside Reindeer Court between The Shambles and New Street, which is home to retailers such as JD Sports, M&S, Greggs, Café Nero, Vodafone, TK Maxx and more.
Key Features
Tenure
Freehold
VAT
VAT is Applicable
Property Description
The property comprises two-storey retail unit t/a lingerie boutique and provides the following accommodation and dimensions:
Ground Floor: Retail 32.80 sq m (353 sq ft)
First Floor: Ancillary 44.50 sq m (522 sq ft)
Total NIA: 81.30 sq m (875 sq ft)
Ground Floor: Retail 32.80 sq m (353 sq ft)
First Floor: Ancillary 44.50 sq m (522 sq ft)
Total NIA: 81.30 sq m (875 sq ft)
Tenancy Description
The property is at present let to Embrace (Cheltenham) Limited for a term of 5 years from 10th October 2023* at a current rent of £10,750 p.a. and the lease contains full repairing and insuring covenants. Tenant option to determine in April 2025 and 2027 with min 6 month`s notice. Deposit held of £3,600.
* Lease renewal. Tenant in occupation since 2018 and currently paying £10,000 p.a. Vendor will top up rent so the buyer receives the equivalent of £10,750 p.a. from completion.
* Lease renewal. Tenant in occupation since 2018 and currently paying £10,000 p.a. Vendor will top up rent so the buyer receives the equivalent of £10,750 p.a. from completion.
Tenancies & Accommodation
Location Description
Worcester is a city in central England’s West Midlands region. The city is a major retail centre, with several covered shopping centres to accommodate the major chains and many independent shops and restaurants, particularly in Friar Street and New Street. The M5 Motorway runs north–south immediately to the east of the city. It is accessed by Junction 6 (Worcester North) and Junction 7 (Worcester South). Worcester has three stations. Worcester Foregate Street and Worcester Shrub Hill are in the city centre. A third station on the edge of the city, Worcestershire Parkway opened in 2020. The property is located within 0.3 miles from Worcester Foregate Street train station. Nearby occupiers include M&S, Greggs, JD Sports, Costa Coffee and Waterstones, amongst many more.
